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Ukraine crypto exchange developer soldiers on

By Monte Stewart

Edited by Aaron Woolner


Tanks in Ukraine
Ukraine crypto exchange developer Dexilon soldiers on despite conflict. – Photo: Shutterstock

A Ukraine-based cryptocurrency decentralized derivative exchange developer is soldiering on despite the country’s ongoing conflict with Russia.

The Dexilon exchange, being built by a company of the same name, is slated to be fully operational in September. 

The Dexilon exchange will allow traders from around the world to trade perpetual swaps, which are futures contracts without expiry dates. 


The Ukraine crypto exchange developer launched a test network, or testnet, last week and the fully operational main network, or mainnet, will begin operating in the fall, Dexilon co-CEO Max Aptilon told

A decentralized autonomous organization (DAO), which will plot the company’s future direction, is slated to begin operating in the first quarter of 2023.

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“Our business is a Ukrainian company, and we want to make it highly successful to show the world that people of Ukraine are very strong, very brave, who can fight an enormous Russian army but also do very innovative technological businesses,” he said. 

“Ukraine is full of such great engineers, great products, great companies. 

We just want to work on this so the world knows we are creators. We create a lot, we do lots of interesting businesses, but we also can defend ourselves.”



Aptilon and his colleague are among many Ukrainian crypto developers who have relocated temporarily to Portugal. 

Dmytro Budorin, CEO of Ukraine-based crypto insurance company Hacken, has also relocated to Portugal.

But 14 of Dexilon’s 18 employees have remained at the company’s headquarters in Kyiv, which is now under the control of the Ukrainian army and relatively safe compared other parts of the country. Two other Dexilon employees joined the Ukrainian army.

Company supporting military

While building the cryptocurrency exchange, Dexilon has also been supporting the Ukrainian army directly, providing two SUVs, drones, bullet-proof vests and helmets shipped from the US and the UK.


27,486.05 Price
+0.120% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 85.00


0.54 Price
+2.240% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01192


0.06 Price
-0.490% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012166


43.71 Price
-1.530% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.16

 “To give money is pretty simple, but we organized the whole chain of delivery, and it’s working efficiently,” said Aptilon.


Aptilon relocated to Lisbon due to investors’ concerns about his safety and the need to travel for business. 

But before relocating, he dealt with harrowing times in his homeland.

‘Tough times’

“I helped a few of my colleagues, in Kharkiv, on the east of Ukraine, and at the heart of the fighting bring them to the west of the country ,” he said, noting that one was in a bomb shelter. 

“I was travelling around Ukraine for some time by car and bringing some humanitarian goods to the east.

“It was tough times,” he says with a chuckle.

Aptilon fled Ukraine by car and drove across Europe to Lisbon.

A Dexilon investor and one of Aptilon’s friends have supported him and a colleague who also relocated to the Portuguese city.

“[The investor and friend] have been really helpful,” said Aptilon. “They’ve offered us some assistance with accommodation and office space.”

Markets in this article

Bitcoin / USD
27486.05 USD
31.85 +0.120%
Cardano / USD
0.25969 USD
-0.00351 -1.350%
Ethereum / USD
1646.19 USD
-14.26 -0.860%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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